Plant Based Protein Supplements Market Overview
๐๐ฅ๐๐ง๐ญ ๐๐๐ฌ๐๐ ๐๐ซ๐จ๐ญ๐๐ข๐ง ๐๐ฎ๐ฉ๐ฉ๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ size was estimated at $4.3 billion in 2020, projected to grow at a CAGR of 7.2% during the forecast period 2021-2026. The increasing importance of a vegan diet as a result of the increased risk of cardiovascular disease and type 2 diabetes associated with meat consumption is expected to have a positive impact on the industry's growth. All proteins are made up of a particular sequence of amino acids that are joined together by amine bonds to form polypeptide chains. The increased proclivity of younger generations, particularly millennials, for balanced meals, high-protein vegan diet and healthy consumption is one of the main factors driving the plant based protein supplement industry's rise. Protein is made up of amino acids, which are the building blocks of the molecule. Arginine is an amino acid that has a role in blood flow regulation. Proteins are broken down into amino acids before being absorbed by the body. They disassemble and reassemble in a variety of ways to produce various proteins that body requires. Despite the fact that protein supplements are often linked with animal products, many plants are also effective sources of protein. Vegans and vegetarians that follow vegan diet easily satisfy their protein demands with these supplements as long as the protein originates from diverse plant sources. The market for plant-based protein products saw a surge in sales in Q1 2020, according to The Good Food Institute. More than 50% of consumers have raised their consumption, with more than a 30% planning to do so in the second half of 2020. Arginine is classified as a semi-essential amino acid by the medical establishment. This implies that it is both produced by the body and absorbed through meals. Beans, peas, and pulses are all members of the legume family. They're a fantastic plant-based protein source. As a source of arginine, soybeans are an excellent substitute for meat. Seaweed is a popular health food with a high arginine content. To promote their growth, children require a specific quantity of arginine in their diet. Adults usually just require what their bodies generate. Some adults, on the other hand, do not create enough arginine. They develop a deficit if they do not absorb enough nutrients from their meals.
Plant Based Protein Supplements MarketReport Coverage
The report: โPlant Based Protein Supplements Market Forecast (2021-2026)โ, by Industry ARC, covers an in-depth analysis of the following segments of the Protein Supplements Market.
By Product: Protein Powder, Protein Bar, Protein Drinks, and others.
By Raw Material: Spirulina, Soy, Pumpkin Seed, Rice, Pea, Hemp, Others.
By Application: Functional Food, Sports Nutrition.
By Distribution Channel: Supermarkets, Hypermarkets, Ecommerce websites.
By Geography: North America, Asia-Pacific, Europe, and Rest of World.
Key Takeaways
Plant Based Protein Supplements Market Segment Analysis โ By Raw Material
Based on Raw Material, Plant Based Protein Supplements market is segmented into Spirulina, Soy, Pumpkin Seed, Rice, Pea, Hemp, Others. Soy Segment is accounted for the largest revenue market share in 2020. Soy protein supplements come from soybeans, one of the few plant sources that provides all nine essential amino acids. Isolates and concentrates are two different types of these goods. Soy products are predicted to acquire appeal as vegetarian sources due to their composition of glutamine, arginine, and Branched-chain Amino Acids (BCAAs), which are expected to drive sector demand higher Soy protein is a globulin protein found in the oilseeds of soybeans. By disulfide and hydrogen bonds with molecular weights ranging from 300,000 to 600,000 KDa, the polypeptide chains of soy protein polymers are linked and entangled into a three-dimensional complex structure. Pea Segment is predicted to grow with the fastest CAGR of 7.7% in the forecast period 2021-2026 owing to the rising popularity for these products. Pea protein is a complete protein that contains all of the necessary amino acids for muscle development and absorption, including BCAAs. Because of the growing popularity of vegan diets among vegetarians and vegans. This type of cuisine is also expected to remain a popular choice for those who are allergic to egg or dairy proteins. Pea protein is a high-quality alternative to soy and dairy-based proteins found in many plant-based protein powders. The amino acid arginine is abundant in pea protein.
Plant Based Protein Supplements Market Segment Analysis โ By Product
Based on Product, Plant Based Protein Supplements market is segmented into Protein Powder, Protein Bar, Protein Drinks, and others. Powder Protein Segment is accounted for the largest revenue market share in 2020. The protein powders' simple handling and distribution, cost-effectiveness, capacity to minimize costly formulation errors, and ability to preserve component stability are all factors that contribute to this segment's dominance. Arginine is an amino acid that is well recognized for its ability to release growth hormone. The reduction of growth hormone in the human body as we age is one of the main reasons why muscle mass declines and body fat increases with age. When comparing the quantity of Arginine in soy protein and whey proteins, a normal soy protein concentrate has 7.6 grams of arginine per 100 grams of protein. For every 100 grams of protein, a normal whey protein contains around 2.9 grams of arginine. Protein Drinks Segment is projected to grow with the fastest CAGR of 7.5% in the forecast period 2021-2026. Protein drinks have precise formulation for immediate consumption and have a high protein content and is taken before/after a workout or on the fly and are most popular among people that follow high protein vegan diet. These proteins are easily absorbed by the body and assist in both the development and repair of lean muscle. Due to rising demand, protein drinks are anticipated to increase at a faster rate than other main protein supplements.
Plant Based Protein Supplements Market Segment Analysis โ By Geography
Based on Geography, North America Plant Based Protein Supplements Market accounted for the 43% revenue share in 2020. North America's dominant position in the plant-based protein supplements market is owing to the higher consumer adoption of high protein diets, vegan diets, nutritional supplements, rising health consciousness and living standards. Moreover, the well-established functional foods industries, growing trend for vegan diet, large number of well-established sports clubs and gyms, along with greater focus on healthy living, and growing clean label trend in this region is driving the accelerating the demand for plant based protein supplements market. According to the Council for Responsible Nutrition, the vegan supplement industry in the United States reached US$ 120 million in 2016 and is expected to continue to expand in the coming years. Asia-Pacific is poised to grow with the fastest CAGR in the forecast period 2021-2026. Growing economies and improved knowledge of the need of a healthy diet, rising vegan diet trend and affluence, increased involvement in sports and leisure activities, and a growth in the number of fitness facilities and sports clubs in the region all contribute to increased product demand. Excluding Asia-Pacific Vegan supplements are a relatively new sector in Japan, although it is rapidly growing. China and India are two important marketplaces in the region. Retail sales of health and wellness products in China are anticipated to exceed 2 trillion yuan in 2020, according to China's health and wellness products organization.
Plant Based Protein Supplements Market Segment Analysis-Drivers
Growing Trend for Vegan Diet:
A lot of changes have occurred in the food and beverage sector as a result of the growth of the conscientious customer. In particular, the supplement sector has seen a lot of innovation. Vegan supplements have sparked a lot of curiosity among the people, thanks to the growing popularity of veganism or vegan diet. Vegan supplements are generally seen to be safer and healthier than animal-based supplements. Furthermore, ethical concerns about the usage of animal products are spurring expansion. Vegans in the UK rose by nearly four times between 2014 and 2019, according to the Vegan Society. Vegans make about 3-4 percent of the population in the United States, depending on their age group. With so many well-known athletes associated with vegan dietary trends, the function of vegan supplements in increasing endurance is likely to play a part in market growth. Between 2018 and 2019, the Academy of Nutrition and Dietetics reported a rise of over 8% in the intake of plant-based supplements under prescription diets targeted at reducing deficiency concerns in the United States. This pattern is expected to persist even after the covid-19 epidemic has passed. In addition, according to an Indian Census Report, about 30% of the Indian population was vegetarian or vegan between 2016 and 2019, with a higher number of vegetarian consumers among the female demographic. In the next years, the country's large demographic base is expected to present significant growth opportunities.
Plant Based Protein Supplements Market Segment Analysis-Challenges
High Cost of Protein Supplements:
While vegan diet and nutraceutical products have received more attention in recent years, the vegan supplement sector faces a number of difficulties that are limiting its development potential. Plant-based protein supplements have greater production costs than animal-based protein supplements, which is a major barrier to adoption. The lack of palatability of plant-based end products is another issue in the business. This is especially true when it comes to detox and protein products. In the near future, advancements in taste solutions, such as polymer coatings and microencapsulation, will help to solve these problems.
Plant Based Protein Supplements Market Segment Landscape:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Plant Based Protein Supplements Market. Plant Based Protein Supplements Market top 10 companies are Danone SA, Glanbia plc., MUsclePharm Corporation, Now Health Group, Inc., CytoSport, Inc., General Nutrition Centers (GNC) Holdings, Inc., Quest The Simply Good Food Co, The Nature's Bounty Co, Reliance Vitamin Company, Inc., Herbalife Nutrition, Inc.
Acquisitions/Product Launches:
